Actually, we have ITC -CGST and SGST in large amount, can we get refund the same, if yes what is the procedure
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Could i take itc refund
Replies (4)
No refund is allowed as per my knowledge, unless one completely winds up that particular business
please correct me if I am wrong
please correct me if I am wrong
Refund of excess input credit under GST will be allowed only in following cases
1. Export of goods or services
2. Inverted tax scruture (Inputs @ higher rate and ouput @ lower rate)
1. Export of goods or services
2. Inverted tax scruture (Inputs @ higher rate and ouput @ lower rate)
but what if output product is nil rated or Not taxable?
Then you are not eligible for input at all, hence no question of refund
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